AMERICAN FORK, UT. Co-Founded by exited serial entrepreneur Skyler Meine and lifelong gamer/product builder Tyler Jorgensen, NFTy Arcade is building technology to add convenience, transparency, and financial tools to power Web3 consumer adoption. As a result, individual consumers will now be able to bring monetary value to their digital property.
“We believe the future of ownership is digital. Everything from labor, to identity, to consumer products will be unique digital property and we are starting with video games!” according to co-founder and CEO, Tyler Jorgensen.
Gaming has evolved significantly over the last few decades. It has gone from console dominated to free-to-play mobile games seemingly in the blink of an eye. Now, games like Clash of Clans and Candy Crush rule the gaming market.
Luckily for all gamers, game developers are incentivized to build with technology that enables digital property ownership because when gamers own their in-game items, they spend double the amount they would usually pay.
For example, gamers generally spend $80 over their lifetime on one specific game, but when digital property ownership is incorporated, they spend $160 on average.
Noticing this uptick in average spending, NFTy Arcade set out to build software that they believe can 10x the average gamer’s spending.
Skyler Meine is no stranger to success in a frontier market. Meine founded IdealShape, an e-commerce-driven women’s supplement brand, in 2006 and later transacted the business to a European entity that was rolling up companies in the space.
Since his exit, Skyler has been building and incubating startups through his family office, Drive Ventures.
“The opportunity we have in NFTy Arcade is massive because blockchain technology has flattened the world. Now, the time and energy individuals put into understanding and playing in the digital world has the potential to even the financial playing field”, Meine explains.
Considered on the ground floor, NFTy Arcade has already built a partnership with one of the largest games in Web3 gaming, Splinterlands.
“NFTy Arcade has quickly become an essential contributor to the ecosystem. They have found unique ways to remove complex barriers for new players and communities to onboard into our game, which is incredibly valuable to us. But, at least In Web3, it’s hard to say such things about many organizations in this early phase of the space.”, said Splinterlands VP of Sales Jon Monaghan.
NFTy Arcade’s platform makes participation more convenient, and this kind of transparency truly unlocks the value creation that has existed in our everyday lives but hasn’t had a mechanism to come alive.
“We see NFTy applications for many industries like ticketing and automotive. Imagine renting out your season tickets for a professional sports game you can’t attend simply and cost effectively, or being able to sell or transfer ownership of your car title seamlessly in one marketplace. It’s a big idea, and we believe that the time to build this is right now,” Jorgensen said.
When asked about his partnership with his young, upstart cofounder, Tyler Jorgensen, Meine said, “Our shared belief that the world is rapidly becoming more and more digital and that this technology will accelerate the mainstream adoption of Web3 has brought us together. The platform we’re building has so many applications in gaming and beyond”.
The company is currently in discussions with venture funds and participating angel investors to finance the coming round on top of onboarding the next 3 games.